New Venturetec Ltd. results for the first half of the fiscal year 2018/2019 ended March 31, 2019 – Rescheduling of the Extraordinary Shareholders' Meeting until June 27, 2019

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New Venturetec Ltd. results for the first half of the fiscal year 2018/2019 ended
March 31, 2019 – Rescheduling of the Extraordinary Shareholders' Meeting until June 27, 2019

Zug, May 3, 2019. New Venturetec Ltd. closed the first six months of the fiscal year 2018/19, ended March 31, 2019, with a profit of USD 29,078,003 compared with a profit of USD 14,467,536 in the same period 2017/18. The net asset value per share increased from USD 6.58 to USD 12.57 which equals 91.03% during the reporting six months period. The share price increased from CHF 5.10 as of September 30, 2018 to CHF 9.00 as of March 31, 2019.

The profit is mainly a result of the increase of the public traded share price of Osiris Therapeutics from USD 11.10 to USD 19.00 (+71.2%). The share price of Myriad Genetics decreased from USD 46.00 to USD 33.20 (-27.8%) in the reporting period.

As of March 31, 2019, New Venturetec had two investments, with a total value of USD 83,274,719, which results in an accumulated unrealized net profit of USD 34,670,304 against the costs of the investments. The larger position is Osiris Therapeutics with 93.62% of total investments.

The total board remuneration accrued for the six months period was CHF 20,000. Total operational costs for the first half of the fiscal year 2018/19 were USD 158,022.

As earlier announced, the Board of Directors of New Venturetec Ltd. will call an extraordinary Shareholders' meeting, which will however have to be rescheduled until June 27, 2019, 10:00 a.m. in Zug. Details will follow.

 

About New Venturetec

New Venturetec is a publicly traded Swiss investment company (SIX: NEV) which holds participations in venture companies in the areas of biotechnology and technology which are domiciled in the USA.

The investment horizon should be 10 years or more. A shareholder is recommended to follow the development with interest and base an investment or disinvestment decision on results of the development of the portfolio companies rather than on the general capital market and the investors’ sentiment. Any investor should only invest in New Venturetec if he can afford the complete loss of the investment without having to change his lifestyle. Significant risk is involved and the timelines may exceed the expectations. In addition, the market of New Venturetec shares is very illiquid. The risks of venture investments are 100%. The total loss of the investment has to be considered as a realistic possibility.